Private Colleges and Universities Rely on Money Contributed by Individuals

question 301

Multiple Choice

Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses.Much of this money is put into a fund called an endowment,and the college spends only the interest earned by the fund.A recent survey of 8 private colleges in the United States collected information on the endowment amount.Based on this information,which of the following will you construct to learn about the mean endowment of all private colleges in the United States?

• A)Confidence interval estimate for the total using the Student's t distribution.
• B)Confidence interval estimate for the mean using the Student's t distribution.
• C)Confidence interval estimate for the proportion using the standard normal distribution.
• D)Confidence interval estimate for the difference between two means using the standard normal distribution.

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Definitions:

Reasoning Skills

The ability to think, form judgments, and draw conclusions logically and systematically.

Novel Tasks

New or unfamiliar tasks that require unique solutions or approaches.

General Mental Ability

A measure of an individual's overall cognitive capabilities, often referred to as intelligence or IQ.

Triarchic Theory

A model of intelligence proposed by Robert Sternberg, consisting of analytical, creative, and practical components.